An investment's coefficient of variation is its standard deviation divided by its expected return. It is used to measure the risk of securities relative to their expected returns and to compare the risks of the different securities. The coefficient of variation for a portfolio can be calculated in the same manner, by dividing the standard deviation of the portfolio by the expected return of the portfolio. However, to use the coefficient of variation and the standard deviation of a portfolio to calculate the portfolio's expected return, you would have to divide the standard deviation by the coefficient of variation, not the reverse. A financial calculator is not needed for calculating the expected return of a portfolio. The standard deviation of a portfolio is the square root of its variance. The variance multiplied the standard deviation is not a meaningful calculation. The expected return of a portfolio is the weighted average of the expected returns of the individual securities within the portfolio, with each security weighted according to its proportion of the total portfolio.
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